Short Notes on Accounts – I

Appropriation (Allotment)
It means the amount provided in the budget estimates for a Unit of Appropriation or the part of the amount placed at the disposal of the D.D.O.

Sinking Fund
The fund to which regular contribution is made out of general revenue for redumption of loan is called Sinking Fund.

Controlling Officer
Controlling Officer means a Head of the Deptt. or other departmental officer who is entrusted with the responsibility of controlling expenditure or collection of revenue by subordinate office.

Challan/Memorandum
For the purpose of depositing the money into the Treasury or Bank their is a specified form i. e. T. R. 7 where particulars of deposits and proper head of accounts including the name of depositor should be mentioned. The separate challan should be used for different heads of accounts.

Transfer Entries
Transfer entries mean transfer from one head to another head of accounts. All transfer entries relating to a month are made through the Combined Transfer Ledger and Abstract. The net result of total of debit and credit due to transfer entries will be equal. The result of the same is reflected in the Departmental classified Abstract or Detailed Book.